Newgen Software Jumps Over 4% On TCS Belgium Deal – SEBI Analyst Pins This Level As Key Support To Watch
Synopsis
The company also secured a ₹21.24 crore order from Kshema General Insurance for its policy administration system.
Newgen Software shares rose by over 4% on Thursday after the company announced that its unit, Newgen Software Technologies (UK) Ltd., had signed an agreement with TCS NV, Belgium.
The five-year master services agreement covers cloud hosting, software licensing, and implementation services, according to an exchange filing on Wednesday.
Additionally, Newgen Software said it has received and accepted a purchase order from Kshema General Insurance for its policy administration system. The commercial value of the order is ₹21.24 crore.
Technical View
SEBI-registered analyst Sunil Kotak said the stock is currently in a sideways trend. On the weekly charts, the Relative Strength Index (RSI), a momentum indicator, is at 43.
He noted a retracement on the long-term chart, with the ₹850–₹900 range acting as a strong demand zone.
Kotak said the stock needs to cross the ₹960–₹990 zone for a fresh up-move. Currently, the ₹960–₹990 level is acting as a strong support zone.
What Is The Retail Mood?
On Stocktwits, retail sentiment was ‘bullish’ amid ‘normal’ message volume.
Newgen’s stock has declined 46.4% so far in 2025.
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